Fair triples profit from last year

Saturday

Dec 16, 2017 at 3:00 PM

Higher revenues from the Budweiser Clydesdales, investments, naming rights, grants and beer sales and a sharp decline in overall expenses helped the Monroe County Fair triple its profit in 2017 from last year.

Dean Cousino Monroe News staff reporter CousinoDean

Higher revenues from the Budweiser Clydesdales, investments, naming rights, grants and beer sales and a sharp decline in overall expenses helped the Monroe County Fair triple its profit in 2017 from last year.

The 70th fair held July 30-Aug. 5 earned $267,141 for the fiscal year that ended Oct. 31, an increase of more than $184,000 over its income in 2016 and double the $129,159 earned in 2015. The glowing report from auditor Heidi Galati warmed more than 90 people who attended the fair association’s annual meeting Thursday at the 4-H Activity Center.

"You had a very good year," Galati told 65 life members, a dozen annual members and other fair supporters in the audience.

A record 205,230 visitors poured through the gates during the seven-day fair, with many of those coming to see the famous Anheuser-Busch eight-horse hitch that Floral City Beverage Co. brought to mark its 75th anniversary.

"They brought in big crowds," new fair Manager Darryl Diamond noted. "We hope to get them back for our 75th."

General admission revenue — $413,946 — was about the same as last year, but it was what fairgoers did on the grounds that helped the fair’s bottom line.

Grandstand entertainment generated a nearly $21,000 profit this year after bleeding $36,000 in the red in 2016. The big moneymakers were the two demolition derby contests ($50,578) and monster truck show ($16,119). The combine demolition derby ($8,155) and rodeo ($1,978) also turned a profit, while the tractor pulls ($16,526) and Bill Engvall comedy show ($3,558) lost money.

Sale of beer netted $25,000 in income compared to $8,385 in 2016 when beer was sold for the first time. The fair also sold beer in the grandstand for the first time for two shows — the Engvall show and monster trucks, said Stan Diroff, chairman of the fair’s entertainment committee.

The fair earned $83,000 in interest and dividends from its investments and $27,500 from a donation from Education Plus Credit Union for the naming rights to the announcer’s booth at the horse show arena, an improvement that greatly boosted the arena’s popularity among exhibitors and volunteers.

"The 4-H Horse and Pony Board solicited that. They get all the credit," Diamond said.

Total expenses amounted to $1.3 million in 2017, a decrease of almost $200,000 from last year. Key among the savings was a $109,000 decline in cost for grandstand entertainment and a drop of $84,000 in expenses for repairs and maintenance.

Revenue from grants climbed about $17,000 this year. That included a $9,900 grant from the Michigan Department of Agriculture, but that grant program is ending and won’t be available in the future, Diroff said. The fair received a $20,000 matching grant in 2015 for improved lighting and blacktopping on the grounds. It plans to apply again in January for a $40,000 matching grant that would make $80,000 available for more LED lighting and blacktopping a portion of "C" parking lot by the Expo building. A grant recipient can reapply every other year, he said.

It was a year of transition for Diamond, who succeeded Warren Siebarth overseeing the day-to-day operations and off-season events at the fair. He thanked his office staff – Delight Shoemaker and Angie Motylinski, the 36-member board of directors and his work crews for supporting him his first year.

"The learning doesn’t stop," the new manager said. "I want to thank all the volunteers — we couldn’t have a successful fair without our volunteers."

Siebarth, who retired in 2016 after 28 years as manager, was brought back part-time to assist Diamond.

"Darryl’s done an awesome job for his first year," board President Jeremy Hosler told the crowd. "He had some big shoes to fill."

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